Nigeria increases excise duties on tobacco, alcohol

ABUJA, March 11 (Reuters) - Nigeria's President Muhammadu Buhari has approved an increase in excise duties on tobacco and alcoholic beverages, the finance ministry said in a statement on Sunday.

The move was aimed at achieving "a dual benefit of raising the government's fiscal revenues and reducing the health hazards associated with tobacco-related diseases and alcohol abuse," it said in the emailed statement. (Reporting by Camillus Eboh Writing by Alexis Akwagyiram Editing by Peter Graff)